Gogo (NASDAQ:GOGO) Shares Up 10% - Should You Buy?

Shares of Gogo Inc. (NASDAQ:GOGO) saw a notable increase of 10% in mid-day trading on Thursday. The stock climbed to a peak of $8.29 before settling at $8.42. During this trading session, approximately 584,411 shares were traded, which is a marked decline of 39% from the average daily trading volume of 961,214 shares. Previously, the stock had closed at $7.65.

Gogo Trading Up 11.4 %

• Gogo Stock is Poised for Further Growth

The company’s 50-day simple moving average stands at $7.91, while the 200-day simple moving average is at $7.64. Gogo demonstrates solid financial ratios with a current ratio of 3.58, a quick ratio of 2.81, and a debt-to-equity ratio of 11.07. With a market capitalization of $1.07 billion, the stock features a PE ratio of 19.81 and a beta of 1.13, suggesting it is relatively stable compared to the overall market.

Institutional Investors Weigh In On Gogo

Recent trading activities have seen significant adjustments among large investors regarding their holdings in Gogo. FMR LLC expanded its investment in Gogo by 138.4% during the fourth quarter, resulting in ownership of 13,475,009 shares valued at approximately $109 million after acquiring an additional 7,821,973 shares. Additionally, Capco Asset Management LLC increased its stake by 22.1% in the same quarter, now owning 3,009,743 shares worth around $24.3 million following a purchase of 544,178 shares.

SCP Investment LP also increased its shareholding in Gogo by 51.0% during the fourth quarter, bringing its total holding to 1,450,000 shares valued at approximately $11.73 million after acquiring 490,000 shares. Furthermore, Weiss Asset Management LP bought a new position in Gogo valued at around $3.03 million during the third quarter. Renaissance Technologies LLC raised its ownership by 113.8% in the fourth quarter as well. Overall, institutional investors now command about 69.60% of Gogo's stock.

Gogo Company Profile

Gogo Inc. operates within the aviation industry, providing broadband connectivity services both in the United States and internationally. Its comprehensive product platform encompasses networks and antennas, airborne equipment, and software solutions. Gogo's offerings include in-flight systems, services, aviation partner support, and services in engineering, design, and development, in addition to production operations.

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This report includes analytics generated from various financial data to inform investors promptly and accurately. For inquiries or comments, you may contact us via email.

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